Today we are diving into the world of automobiles. We'll be exploring the world's top 10 richest car companies.
The first car was built in 1885-1886 by German mechanic Karl Benz. However, that might not be entirely true. Transportation vehicles have been dated all the way back to the 15th century engineered by Leonardo da Vinci. From the 15th century and into the 21st century the automobile has changed drastically and with those changes came power and money. At the last count, there were 1.015 billion automobiles in use in the world today. That includes cars, trucks, buses, and heavy-duty trucks. At the last consensus, it was estimated that 17.5 million vehicles are sold each year. Raking in a whopping $105 billion.
So it's time now to take a closer look at the top companies in the automotive world and learn how they got their start.
1. Tesla
Market Cap: $ 582.93 billion
Elon Musk is one of the most well-known CEOs when it comes to car companies. He was ranked number 1 on Forbes's list of the most powerful people in 2022 with a net worth of $224 Billion. He's always thinking outside the box like when he launched a car into space with a dummy driving. The company is always looking for ways to expand and improve. One of the newer companies Tesla was founded in 2003. It was created by a group of people all engineers that wanted to make the best electric cars. The company is focused on moving away from fossil fuels. Tesla's production location is in Fremont California, where the vehicles are created.
In the year 2016, model 3 was introduced. It's a high-volume electric vehicle that isn't as expensive as other companies and a little fun fact that the key for the Tesla has the shape of the Tesla car.
In the year 2020, Tesla produced 509,737 automobiles, 3,022 MWh batteries, and 205 MW solar. By 2020, the world’s leader had captured 16 percent and 23 percent of the plug-in and battery-electric markets, respectively, and had the greatest worldwide sales numbers in both sectors.
2. Toyota
Market Cap: $ 246.61 billion
Toyota is the second-largest auto company in the world. The company has a market cap of 246.61 billion dollars. Toyota was named after its founder Kushiro Toyota. Toyota has more IIHS top safety Pick Accolades and JD Power Vehicle Dependability awards than any other car manufacturer out there. They've also received an award for being the vehicle to last the longest. Toyota came to America in 1957 and to this day some of those very vehicles still travel the roads. They can invest a million dollars every hour to develop and research within their company and they've created over 300,000 jobs in the United States alone.
After World War II, Toyota benefited from Japan's alliance with the United States to learn from American automakers and other companies, which would give rise to The Toyota Way (a management philosophy) and the Toyota Production System (a lean manufacturing practice) that would transform the small company into a leader in the industry and would be the subject of many academic studies.
In the 1960s, Toyota took advantage of a rapidly growing Japanese economy to sell cars to a growing middle-class, leading to the development of the Toyota Corolla, which would go on to become the world’s all-time best-selling automobile. The booming economy also funded an international expansion that would allow Toyota to grow into one of the largest automakers in the world, the largest company in Japan, and the ninth-largest company in the world by revenue, as of December 2020. Toyota was the world's first automobile manufacturer to produce more than 10 million vehicles per year, a record set in 2012 when it also reported the production of its 200 millionth vehicle.
3. Volkswagen
Market Cap: $ 172.70 billion
When you hear of the manufacturing company Volkswagen, you might think of that loveable little bug Herbie. Since then Volkswagen has only grown to sell an astounding 10 million vehicles in 2017.
Volkswagen was founded in 1937 by the German labor front. After world war, II the company was owned by the West German government. Volkswagen stands for people's car which explains their slogan as well. In 1959 after a rebranding with a Volkswagen Beetle the popularity of the company took off in the United States at first it wasn't that big of a hit and then it started to show up in the pop culture.
Volkswagen has 100 manufacturing plants in 27 countries. Its production output in 2020 was 8,900,000 cars.
4. Daimler
Market Cap: $ 103.05 billion
Daimler is fourth on this list and the owner of Mercedes-Benz. They sell over three million cars worldwide each and every year. The Daimler headquarters resides in Stuttgart baden-württemberg, Germany. Other brands this company manufactures are the Commas, Mitsubishi, Fuso, and the smart automobile.
Daimler is the world's largest manufacturer of trucks as well. One of their main focuses is shaping the future of mobility. The car Mercedes-Benz actually originated from was from the daughter of one of Daimler's early clients.
The company Daimler motor and Gessle shaft later combined with Benz and co. to form what is known as Mercedes-Benz. These luxury cars have been driven by the elite all over the world, such as Elizabeth Taylor, Coco Chanel, John Lennon, and many many more number.
5. General Motors
Market Cap: $ 86.53 billion
With a manufacturing output of 6,829,000 cars on December 31, 2020, General Motors is one of the most renowned automotive brands in the business. GM has always pushed the boundaries of engineering, becoming the first to mass-produce an inexpensive electric car and the first to create an electric starter and airbags.
The Chevrolet bolt Evie got the prize for Motor Trend Car of the Year in 2017. General Motors was founded in 1908 by the owner of Buick William C Durant. General Motors has over 12,000 dealers selling in over 125 countries. GM also has well-known brands in their portfolio like Chevrolet, GMC, and Cadillac.
The crash test dummies General Motors design are the global standard for front crash tests. GM was also the first manufacturer in North America to build a test facility just to test rollovers. In 2016 Chevrolet was voted for the Green Car of the Year award.
6. BYD
Market Cap: $ 79.23 billion
BYD is a Chinese car company that is ranked sixth among the world’s top 10 vehicle manufacturers in 2021. Wang Chuanfu started the firm in 1995, and it now services a global market from its headquarters in Shenzhen.
BYD is a car company that produces hybrid and full-electric vehicles, light trucks, buses, solar panels, forklifts, battery-powered bicycles, and rechargeable batteries.
The company produces cars, buses, trucks, electric bicycles, forklifts, and rechargeable batteries. The current model range of automobiles includes electric vehicles, plug-in hybrid vehicles, and petrol engine vehicles. The Denza brand, a joint venture with Daimler AG, produces luxury electric cars.
As of 2021, BYD Auto is the world's second-largest NEV carmaker in the world, with 329,408 units sold in January-September 2021.
7. BMW
Market Cap: $ 73.02 billion
When thinking about luxurious cars your mind may automatically go to this company. Each year BMW sales only increase, in 2017 alone the company sold over 2 million automobiles. These luxurious cars can be seen worldwide but only have factories in 14 countries. It leads all other companies in the production of premium cars and motorcycles.
The company says sustainability is what drives the production of their vehicles and they are always looking towards the ecological future and sustainability of their products. BMW was founded in 1916 by a merged company of Carl Rapp and Gustav Otto.
BMW stands for 'Bayerische Motoren Werke' and the company was ahead of the curve when it made its first electric car in 1972.
8. NIO
Market Cap: $ 67.44 billion
NIO was created in 2014 by its creator William Li and has quickly risen to the eighth position on the list of the world’s top 10 car companies in 2022.
The Chinese-based car company is involved in automotive technology and designs and manufactures electric cars.NIO has expanded its operations to other nations such as Germany, the United States, the United Kingdom, and Hong Kong.
NIO was founded in November 2014 by William Li, the Chairman of Bitauto and NextEV. After launch, several companies invested in NIO, including Tencent, Temasek, Sequoia, Lenovo, and TPG. Its first model, the NIO EP9 sports car, debuted the same day the brand was established.
In October 2016, NIO announced that it had been given an "Autonomous Vehicle Testing Permit" by the California DMV and it would begin testing on public roads under the "Autonomous Vehicle Tester Program" guidelines as part of its autonomous vehicle program. According to the company, it planned to launch vehicles with level-three and level-four autonomy.
9. Honda Motor
Market Cap: $57.48 billion
Honda makes popular cars everyone knows well like the Accord and the Civic. They're even featured in blockbuster hits like The Fast and the Furious franchise. Most of Honda's products are made in the United States. In 2017 they sold over 5 million cars.
Honda was established in 1949 and designed the first product called the dream a motorcycle. In 1959 Honda came to the United States. Honda got its start producing motorized bicycles.
They also make watercraft, lawn equipment, and ATVs among many other things. It's worth noting that the first foreign car produced in the US was the Honda Accord. Interestingly, all seven continents on this planet have Honda equipment that is currently running.
10. Ford Motor
Market Cap: $ 59.52 billion
Ford has been around for a hundred years and is a brand everyone will recognize. The main Ford facility resides in Dearborn Michigan and was founded in 1903. Henry Ford had a vision for the best car and his drive has been an inspiration to many people over the years. He built his first vehicle when he was an engineer at the Edison Illumination company. It was called the quadricycle, a horseless carriage.
Ford is the second-largest car manufacturer in the United States and it's also the second-largest family-owned company in the world. The Ford Mustang was introduced in 1964 and almost 100,000 toy versions of the car were purchased for children that year.
The Ford f-series has been ranked the number 1 car sold in America for many years.
Conclusions
With an economy fluctuating worldwide there's always a demand for transportation many companies are looking toward the future and creating innovative designs with electric cars. It only makes sense since oil is a limited resource that will one day be long gone. Now that you've learned some more about these top companies we want to know if you could choose any car from anyone on this list. What would it leave your answer in the comments below?
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